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It is likely Greece will end up leaving the euro zone, Swedish finance minister Anders Borg said Saturday, adding that the move would establish a separate currency that could help the troubled southern European economy regain competitiveness.

"As it stands now, one should draw the conclusion that is likely they leave ," Anders Borg said during a conference call with reporters following the International Monetary Fund's fall meetings in Tokyo, the Wall Street Journal reports. "We can't rule out this happening within six months."

The Greek economy remains in dire condition, Anders Borg said, as the country's government hasn't been able to push through the measures needed to regain competitiveness.

The country has receiving hundreds of billions of euros in bailouts from creditors including the European Central Bank and IMF.